LAIC completes capital campaign, meets $1M goal

MADISON, S.D. – After only three months, the Lake Area Improvement Corporation has met the fundraising goal of the Forward Madison 3 Campaign.

Forward Madison is a five year capital campaign with donations committed from 2017 to 2021.

The campaign was completed entirely by LAIC staff and volunteers including the board of directors. The fundraising committee was chaired by Jon Knuths, Ed Fiegen and Floyd Rummel.

“Raising $1 million dollars seemed like a hefty goal, but our success shows the commitment in Madison and Lake County to economic development,” said Knuths. “Our partners understand the importance of this campaign and what it means for the future of Madison and Lake County.”

The first Forward Madison campaign kicked off in 2006 and the community has seen much success since, including population growth, increased taxable sales and property taxes collected.

The LAIC has three main objectives for Forward Madison 3 including industrial park growth, recruitment of technology businesses and workforce development.

The LAIC recently constructed and sold a spec building in the Lakeview Industrial Park and looks to continue efforts of business retention and expansion. They look to further expand the park with the possibility of building another spec building in the future.

“When recruiting businesses, it is much easier to promote and sell our community as a potential location if we have a move-in ready building available,” said Rummel.

The LAIC also plans to work with Dakota State University to recruit technology businesses – types of businesses where DSU graduates would want to work.

“DSU is nationally known for its computer and technology programs and houses some of the most in-demand and high-paying career fields in technology,” added Rummel. “However, we’re losing many graduates as they move away for jobs in their respective fields. We look forward to working with the university to harness the knowledge of those graduates and provide opportunities for them to stay in Madison.”

Workforce development is another important goal of the campaign.

“Housing options in the area are increasing which helps workforce; but the LAIC will continue working to ensure adequate housing is available,” said Fiegen.

They will also work on recruiting workers from outside of the area and keeping graduates here.

Part of that effort will include a campaign reaching out to people who grew up in the Madison area and are no longer living here; letting them know what housing and job opportunities are here.

“People who grew up here know Madison and the excellent quality of life we provide, but we need to show them what has changed and what opportunities are here,” Fiegen added.

The LAIC also intends to work more on career and technical education, showing high school students the opportunities available here, and work with businesses on Build Dakota Scholarships.

“Partnerships are the key to any community’s success and we are lucky to have businesses here willing to invest in the future prosperity of Madison and the surrounding area,” Knuths said. “There is much work to be done and we look forward to tackling all the opportunities the Forward Madison 3 campaign provides.”

Businesses or individuals are still able to pledge to the campaign and may do so by contacting LAIC Executive Director Julie Gross at 256-0797.